A common view of the SEBI (Securities and Alternate Board of India) constructing is seen within the enterprise district of Mumbai, India, on July 1, 2025.
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The Securities Alternate Board of India (SEBI) has barred Jane Road Group from accessing India’s securities market, in keeping with an order posted on the regulator’s website on Friday.
The order said that the U.S. buying and selling agency’s “entities are restrained from accessing the securities market and are additional prohibited from shopping for, promoting or in any other case dealing in securities, straight or not directly.”
The regulator additionally issued an interim order to impound over 48.4 billion Indian rupees ($566.3 million) from Jane Road in alleged unlawful positive aspects.
It additional said that banks have been directed to make sure that “no debits are made, with out permission of SEBI,” for accounts held by Jane Road’s entities both collectively or individually.
The agency allegedly used varied methods to artificially affect India’s benchmark Nifty 50 index, which tracks the nation’s prime 50 corporations, to revenue from considerably bigger positions in index choices.
SEBI stated that repeated situations of manipulative buying and selling continued even after an “specific advisory” was issued to the agency in February 2025.
The Indian regulator had beforehand expressed considerations over practices comparable to algorithmic trading, which SEBI stated in a September 2024 report allowed proprietary merchants and international portfolio traders to make 610 billion Indian rupees in income in FY 2024, whereas retail traders and different market individuals misplaced the identical quantity throughout that interval.
CNBC has reached out to SEBI and Jane Road for remark.
— CNBC’s Aparajita Saxena contributed to this report
This can be a growing story. Please test again for updates.